Industrial vacuum cleaner market likely to be worth $681.3 million by 2023

The industrial vacuum cleaner market is predicted to grow from USD 536.9 million in 2018 to USD 681.3 million by 2023, at a CAGR of 4.88%, by researchers involved in compiling a new market research report:

The food & beverage industry is expected to capture the largest market share during the forecast period - the report's writers put this down to the industry being more particular about hygiene, as well as vacuum cleaners needing to comply with the Food Safety Modernisation Act (FSMA) and companies implementing Hazard Analysis & Critical Control Points (HACCP) in their processes.

They refer to Occupational Safety & Health Administration estimates that every year foodborne illnesses cost the food industry more than USD 15.6 billion and send many Americans to hospital, which means that food processing facilities need to maintain cleanliness and hygiene in all food processing areas at all times.

The industrial vacuum cleaner market in the Asia Pacific region is expected to grow at the highest Compound Annual Growth Rate during the forecast period, and the report's writers put this down to the global industrialisation in emerging countries, such as China and India, which has led to increasing demand for quick cleaning solutions. The setting up of special economic zones and dedicated industrial corridors in India is fueling the growth of the manufacturing sector. Therefore, notes the report, there has been an increase in micro-, small-, and medium-sized enterprises in the country. This has increased the demand for commercial cleaning equipment, such as vacuum cleaners. The adoption of advanced cleaning equipment is expected to rise in the coming year in these countries, especially in India.